Fort Worth weekly gazette. [volume] (Fort Worth, Tex.) 1882-1891, 1887-07-01
TRADE REVIEW.
The General Reports Of Business at
Nearly All Points Highly Encoar-
agiOg--The Volume Good.
The Fidelity National Banks Rotten
ness Disturbs the Flow OF Money
bul Only Temporarily.
L .ss COgfidencs as TO the Outccm- Of tho
Inter State COmmstce Law-SsVeraI
Industries Threatened.

J NEW YORK; June 24-R. G. Dun & Co.
| in their weekly review of trade say: The
failure Of the Fidelity Bsnk OF Cincinnati,
with such evidences of rotteuress. and
| aud that three officials have been locked
u on criminal charges, is the neutral
J fruit of the wheat corner, but mas DIS
/ turbed business during the week quite
: extensively. The prospect that the de-
| phs tors may recover nothing, that
more than eight other banks v hich
| depOSiteL there have losses 10 bear
! and that the fraudulent rehyDotaecatfon
| OF colaterals for Oans viii entangIe the
I resources OF many 9Ao hsd nothing 10
0 with the wheeg operation, makes t1e
| disturbance felt in many quarters. These
| events Justify the preCauL rs advised for
! weeks past in this review
| The failure of the wheat corner and its
| consequent withdrawal of funds from
| New York 10 meet immediate needs a. TIE
west mas caused temporary striDgsnCy
here which spectators msguided, but
foreign exchange is so near the shipping
/ point and the supply Of unused funds
| abroad is 50 large that relief would come
quickly If the needs here should become
serious. Moreover, the large disburse-
/ =
close a. hand in half yearly settlements.
Ia the struggle to liquidate enormous
specUiations, ard IN preparations for the
sumner du!u=-s, however, there msy oe
som" pressure for money during the re
maj l.u- days VI June.
4 nearly ali utIer points money is re-
pored in good supply.
The general reports Of business at
nearly ell points GRE highly encouraging,
ana The increasing prospect of good crops
ADDS 20 the prevailing confidence Col
lee i0rs arS generally fairly good ana the
volume Of business is large for the
sea on.
TIE lqai6at7n in cotton proceeds
slowly, ia. prices have declined for the
week
Wheat has fallen about ) cents, though
3 partial corner in June still makes quota
lions here cents or more for July.
The pork product fell q little, though
still held at Chicago shove its level else
where
In the stock market liquidation hss
been the feature. The distrust of parties
and securities thought to be even re-
motley connected with the Cincinrs.i
speculation is obvious, srd there is less
confidence as TO the Interstate act A
heavy increase il shipments by lake and
canal IS reported, aud the enforcement. IF
the Law threatens 10 stop manufacturing
and mining q. numerous pcir;-
Under these circumstances the strength
Ct tue market is surprising, especially
when it is remembered that some securi-
ties for several hundred millions have
been listed this year.
STOCKS HAVE GONE DOWN.
NV YORK, June 24-The following
review was issued by Henry Clews d CO.
to-day: 1.-THE sUrging market should HOt
have been unexpected, as every day
for fortnight or more past
fears aave been Oh record
predicting just such 5ackse: as Wau
street has Tow met with. The effect Will
be beneficial, however, as it viii very
likely prevent 8 more serious settlement.
If the day Of reckoning had been deferred
70 TIE crCp moving season instead
OF to-day, further trouble must
have resulted here md elsewhere.
The stock market, not unlike that Of the
wheat and cyF4e markets, is likely tC 5e
more or less 'iG8z7C" for several Geys 10
CONE as tle natural sequence Of tC-e8y's
shock, OcCasiOned 0y the nsayy
Losses which iInumerable cpera-
tors have met with. There ere
too many Cripples, we fear, On the
field for the survivors 10 march
over at g quick, active pace on the way
. rec1peratien. Still Wall street is 90
ing to stay gust where il is, and viii sur
we this shock and witness msDV ups
and downs in the future. The
way 10 make money is to catch
fluctuations. There n&s undoubtedly
been for long time past lack of factu-
atoms showing az unnatural market. It's
sluggishness has been due to that fact.
When stocks won't 60 up the next best
thing is to make them GO down 70 insure
activity. They have j1s. gone down"